Dec 27, 2012 5:00pm PST
on sunday. republicans already refused to take a vote on speaker of the house john speaker of the house john boehner's plan. with no deal in the works you are likely to see a smaller pay check. ktvu's consumer editor tom vacar joins us to detail what it will cost taxpayers. >> reporter: indeed, more than a cliff for some. >> reporter: for more and more americans, the fiscal cliff is being viewed as a failure of government. >> they are on vacation, doing whatever they are doing. they don't care. >> i just don't think they will ever come to an agreement. both parties are so far apart that there is no common ground. >> reporter: if you make between 50-60,000 deal, taxes go up $92 per bye-weekly pay check. most employers will wait for the irs and will continue to deduct at the current rate. >> supposed to be pub luck servants and we can't get a compromise going. what is the right term? >> a lot of times it seems you are not being represented. you have interests over riding the people's concerns. that is an example of what happens in congress. >> the lowest income folks' check will shrink by 3%.
Dec 21, 2012 5:00pm PST
after talking by phone with house speaker john boehner and meeting with senate majority leader. >>> the dow industrials dropped 120 points. the nasdaq fell 29. we also saw a number of conflicting economic reports that experts say suggests the economy is not sure where it's going top our consumer editor tom vacar is in san francisco's financial district with some explanations. >> reporter: there are two winds. those that are blowing and the much more important economic cross winds. for the overall economy most critical shopping days are ahead of us. >> i'm very cautious about how i spend now but i can imagine that spending if something like this happens. it will definitely affect how i spend my money. >> reporter: that worries consumertologist psychologist. >> the drop in consumer confidence has everything to do with the fiscal cliff. what we're seeing is that consumers really don't have a sense of trust that they're safe. they're wondering about the future ramp consumer spending numbers just released for november shows spending at a three year high. but that was last month. tod
Dec 28, 2012 5:00pm PST
the bill should not be stopped by the fiscal cliff. speaker john boehner has not decided whether to consider the bill before the current house session ends on january 3rd. >>> more than 100,000 people are still sitting in the dark and cold in arkansas tonight. 130,000 homes and businesses are without power after a christmas day blizzard from more than 15-inches of snow to the state. utility crews are working around the clock. some areas may not get the lights back on until the new year. >>> it's cold and gray out there, dark any way. >> already, we're tracking a few more rain showers with the radar right now. that trend will continue over the next few hours on live storm tracker 2. we'll take a closer look right now. a closer inspection. there we go at the live doppler sweeps. you see the south bay, reports of light rain moving into the san mateo county coastline also into pacifica. as you can see for this part of the region and checking more activity coming up. let me reset this for you. come in a little tighter once again. the light rain does the light green does translate to r